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Argument Against Public Support: Government Failures

In: Industrial Policy in Europe, Japan and the USA

Author

Listed:
  • Pierre-André Buigues
  • Khalid Sekkat

Abstract

Government failures refer to situations where government intervention prevents the economy from achieving ‘the first best’. As for the market, government failures may occur because of information imperfection. They may also occur because of conflict with other public policies or self-interest seeking by government officials. While the first two arguments are inherent in many public policies (including public support to business) the third is more likely with public support to business. Since government officials have the power to grant concrete benefits to specific actors in the economy, they may be prone to corruption.

Suggested Citation

  • Pierre-André Buigues & Khalid Sekkat, 2009. "Argument Against Public Support: Government Failures," Palgrave Macmillan Books, in: Industrial Policy in Europe, Japan and the USA, chapter 3, pages 20-28, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-24435-1_3
    DOI: 10.1057/9780230244351_3
    as

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